The Swiss-based logistics giant Kühne+Nagel has announced plans to cut up to 1,500 jobs worldwide after a steep drop in third-quarter profits, citing the renewed U.S. trade conflict under President Donald Trump.
In a statement from its headquarters in Schindellegi, Switzerland, the company confirmed it will also lower its profit outlook for 2025, warning of continued uncertainty and weaker transatlantic shipping volumes.
Management described the situation as part of an escalating “trade war”, noting a sharp decline in transport volumes to the United States following the reintroduction of high import tariffs earlier this year. Trump’s administration imposed duties on a wide range of goods from nearly all countries starting in April — a move that has disrupted supply chains across multiple sectors.
Profit warning and restructuring plan
Kühne+Nagel reported a 7 % drop in quarterly revenue to 6 billion Swiss francs (€6.5 billion), partly due to the strong Swiss franc against the U.S. dollar.
Operating profit (EBIT) plunged 37 % year-on-year to 285 million francs, while net income fell 39 % to 206 million francs.
In response, the company is launching a cost-saving programme aimed at reducing expenses by over 200 million francs annually. Measures include the planned job cuts — equivalent to about 2 % of its global workforce of 85,000 employees — as well as process optimisation and greater automation across its logistics operations.
“Given ongoing uncertainties and the impact of the trade war in the fourth quarter of 2025, Kühne+Nagel expects full-year EBIT to exceed 1.3 billion francs,”
the company said, revising its previous forecast range of 1.4 to 1.6 billion francs.
Pressure from global overcapacity and shrinking margins
Beyond U.S. tariffs, Kühne+Nagel faces challenges from overcapacity in global freight markets and margin pressure as transport prices weaken. Logistics firms across Europe and Asia have been hit by slowing trade flows, higher fuel costs, and geopolitical disruptions affecting maritime and air cargo.
Industry analysts note that the return of tariff barriers has reduced efficiency in international logistics, forcing firms to reconfigure networks and renegotiate contracts. “Kühne+Nagel’s exposure to transatlantic trade routes makes it particularly vulnerable to the latest tariff escalation,” said one logistics economist in Zurich.
A historic company facing modern shocks
Founded in Bremen in 1870, Kühne+Nagel is today one of the world’s largest logistics providers, operating in more than 100 countries. The company relocated its management headquarters to Switzerland over 70 years ago.
Its majority shareholder, Klaus-Michael Kühne (aged 88), based in Hamburg, is one of Europe’s wealthiest individuals and remains actively involved in the firm’s strategic direction. Despite the current downturn, the company continues to invest in digitalisation and sustainable logistics, seeking to maintain competitiveness amid shifting global trade patterns.
Outlook: resilience tested by trade tensions
The firm’s leadership said it will continue adjusting its global network and cost structure to reflect “the new normal” in world trade. Analysts expect trade friction between Washington and key economies to persist well into 2026, likely weighing on the European export sector.
Kühne+Nagel’s cost cuts and automation drive are seen as part of a broader logistics industry trend: preparing for an era of volatile trade policy, fluctuating exchange rates, and increased demand for resilient, low-carbon supply chains.
